Nisa Investment Advisors LLC raised its stake in The Allstate Corporation (NYSE:ALL – Free Report) by 8.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,481 shares of the insurance provider’s stock after acquiring an additional 9,006 shares during the period. Nisa Investment Advisors LLC’s holdings in Allstate were worth $25,299,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in ALL. BlackRock Inc. acquired a new stake in shares of Allstate during the 2nd quarter worth approximately $5,439,448,000. Bank of America Corp DE boosted its position in Allstate by 8.1% during the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after purchasing an additional 596,321 shares during the period. GQG Partners LLC acquired a new position in Allstate during the 2nd quarter valued at approximately $1,245,710,000. Deutsche Bank AG acquired a new position in Allstate during the 2nd quarter valued at approximately $1,008,648,000. Finally, Dimensional Fund Advisors LP grew its stake in Allstate by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock worth $581,515,000 after buying an additional 154,259 shares during the last quarter. 76.47% of the stock is owned by institutional investors.
Allstate Trading Up 0.4%
Shares of ALL stock opened at $250.98 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The stock has a fifty day moving average of $245.98 and a two-hundred day moving average of $236.15. The firm has a market capitalization of $63.46 billion, a PE ratio of 5.01, a price-to-earnings-growth ratio of 0.55 and a beta of 0.13.
Allstate (NYSE:ALL – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $5.94 earnings per share. As a group, research analysts expect that The Allstate Corporation will post 36.21 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on ALL shares. Evercore increased their target price on Allstate from $240.00 to $262.00 in a research report on Thursday, October 8th. Jefferies Financial Group cut their target price on Allstate from $310.00 to $292.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Argus set a $238.00 price target on shares of Allstate in a report on Friday, August 28th. Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 15th. Finally, HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and set a $266.00 price target for the company in a research report on Wednesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Allstate has an average rating of “Hold” and a consensus target price of $270.19.
Get Our Latest Stock Report on Allstate
Insider Activity
In other Allstate news, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the transaction, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the sale, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.55% of the company’s stock.
Allstate Profile
Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.
The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.
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